The crypto market is rising again, with Bitcoin breaking back above $36,000 and Ethereum trading around the crucial $2,000 level. This new wave of speculative interest has also lifted meme coins, with traders hoping to capitalize on the hype. In this article, we highlight five emerging meme coins that could be primed for a pump as investors search for the next Dogecoin.
1. Meme Kombat (MK)
As the crypto market pumps, all eyes are on Meme Kombat (MK), an innovative crypto gaming project that blends meme coin battles with opportunities for staking and betting.
Having raised over $1.7 million in its ongoing presale, Meme Kombat is generating hype ahead of its open market debut.
Meme Kombat’s flagship feature is an AI-powered battle arena where popular meme characters fight in virtual battles.
Players can earn MK, Meme Kombat’s native token, by wagering on these battles using the integrated betting system.
In addition, players can simultaneously stake their MK tokens to earn APYs of 630% at the time of writing.
Once the presale ends, Meme Kombat’s development team plans to kick off the first season with 11 characters.
Given its combination of utility and viral appeal, MK is well-positioned as a meme coin that could be set for a fruitful end to 2023.
Interested investors can buy MK tokens for $0.189 during the current stage of the presale using ETH or USDT.
2. Wall Street Memes (WSM)
Another token gaining traction in the meme coin space is Wall Street Memes (WSM), a community-driven project inspired by the r/WallStreetBets subreddit.
Wall Street Memes offers staking with an estimated 40% APY, allowing token holders to earn passive income while supporting the project.
In addition, one of Wall Street Memes’ most exciting features is its decentralized casino on Telegram, which offers new users a 200% deposit bonus up to $25,000.
The casino also has a buyback mechanism that uses some of its revenue to repurchase WSM tokens from the open market.
These tokens are then used for staking rewards, casino prizes, or burning.
Through this buyback mechanism, over 2.5 million WSM tokens, worth $64,000, have been burned so far.
As Wall Street Memes’ casino matures and revenue increases, more token burns are expected – which could help drive up the WSM price.
With its engaged community and meme-inspired utility, Wall Street Memes is another top contender in the meme coin space.
Investors can buy WSM tokens from various Tier-1 exchanges, including OKX, HTX, and BitMart.
3. Sponge (SPONGE)
Sponge (SPONGE) is a trending meme coin that boasts instant brand recognition, due to being based on the SpongeBob SquarePants character.
Despite losing most of its value in recent months, SPONGE has shown impressive resilience, bouncing back strongly and delivering gains of 180% in the past seven days.
Over the past month, SPONGE has pumped by almost 300% – pushing the token’s price to $0.00037.
This impressive performance, coupled with the launch of Sponge’s highly anticipated staking system, has renewed investor interest in the token.
Sponge’s Twitter account has also grown to over 26,000 followers, evidencing the community support surrounding the token.
Although SPONGE is still trading 83% below May’s all-time high, there’s belief that it can retrace some of those losses before the end of 2023 – positioning it as another meme coin to watch in the coming weeks.
Interested investors can buy SPONGE tokens through Uniswap or various CEXs, like Gate.io and CoinW.
4. Bonk (BONK)
Bonk (BONK) is a new dog-themed meme coin launched on the Solana blockchain with the goal of fair distribution.
Riding the meme coin hype wave, BONK is based on the famous Shiba Inu dog Kabuso and utilizes it in most of its marketing material.
While currently lacking clear use cases, Bonk has benefited massively from Solana’s uptick in momentum, soaring 1,391% in the past month.
At the time of writing, BONK’s 24-hour trading volume has hit $85 million – a 16% increase from yesterday.
For those seeking exposure to a hype-driven Solana blockchain asset, BONK is an intriguing option to consider.
5. Rock (ROCK)
Closing out our list of hot new meme coins is Rock (ROCK), a self-proclaimed, totally useless coin inspired by overpriced NFT rocks.
With no real utility beyond its meme appeal, ROCK relies on community excitement to drive up its price.
ROCK has already burned over 24 billion tokens, leaving a $1.8 million market cap from an 86 billion circulating supply.
While ROCK’s developers poke fun at the coin’s worthlessness, its vast supply and low price make it attractive for speculative investors.
All in all, though risky, ROCK is another meme coin that investors may wish to add to their watchlists for the coming weeks.